Hero Electric resumes production, seeks up to Rs 200 crore to rev up output

<p style='text-align:left'>Electric two-wheeler manufacturer Hero Electric has resumed production at its factory as of July, producing scooters in small batches. The firm is now seeking a fresh fund infusion of Rs 100-200 crore from both existing and new investors, including private equity funds, to gradually increase production to previous levels, according to sources.</p><p style='text-align:left'>Sources close to the firm indicate that Hero Electric has rejected claims from a segment of its 800 dealers, who allege that the company owes Rs 500 crore in advances for electric two-wheelers.</p>